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Co-op Bank seeks to plug £1.5 bn capital hole
The Co-operative Bank in Britain said on Monday that it was planning to increase its capital cushion by £1.5 billion ($2.4 billion, 1.8 billion euros) to secure its future but without resorting to state aid.
The bank, which as a mutual is owned by its 4.7 million customers, said it would raise the new capital by issuing shares and bonds in exchange for existing debt, as well as from selling assets.
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5.000
dispatches, 1.250 as illustrated articles, per day -
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major languagesFrench, English, Spanish, Arabic, German, Portuguese
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formatsStories delivered in XML format Metadata for optimal integration.
Co-op Bank seeks to plug £1.5 bn capital hole
The Co-operative Bank in Britain said on Monday that it was planning to increase its capital cushion by £1.5 billion ($2.4 billion, 1.8 billion euros) to secure its future but without resorting to state aid.
The bank, which as a mutual is owned by its 4.7 million customers, said it would raise the new capital by issuing shares and bonds in exchange for existing debt, as well as from selling assets.
5000 dispatches, 1250 as illustrated articles, per day, 6 majors languages
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